What does DBO mean in BUSINESS
The Department of Business Oversight (DBO) is a California state agency responsible for overseeing various business activities in the state. The DBO has the authority to regulate and supervise state-chartered banks, credit unions, trust companies, money transmission services, securities brokers and dealers, consumer finance lenders and servicers, deferred deposit originators, mortgage lenders and servicers and other miscellaneous financial services.
DBO meaning in Business in Business
DBO mostly used in an acronym Business in Category Business that means Department of Business Oversight
Shorthand: DBO,
Full Form: Department of Business Oversight
For more information of "Department of Business Oversight", see the section below.
Essential Questions and Answers on Department of Business Oversight in "BUSINESS»BUSINESS"
What does the DBO do?
The DBO is responsible for regulating and supervising various business activity in California. It oversees state-chartered banks, credit unions, trust companies, money transmission services, securities brokers and dealers, consumer finance lenders and servicers, deferred deposit originators, mortgage lenders and servicers and other miscellaneous financial services.
Is the DBO part of the Federal government?
No. The Department of Business Oversight is a California state agency that is independent from the Federal government.
Does the DBO have any enforcement powers?
Yes. The DBO has authority to take action against entities it regulates if necessary. This may include revoking licenses or imposing fines.
What types of businesses does the DBO regulate?
The Department of Business Oversight regulates state-chartered banks, credit unions, trust companies, money transmission services, securities brokers and dealers, consumer finance lenders and servicers, deferred deposit originators mortgage lenders and servicers as well as other miscellaneous financial service providers in California.
Final Words:
The Department of Business Oversight provides oversight to a wide range of financial service providers operating in California in order to protect consumers' interests while preserving an environment that promotes sustainable economic growth within the State's economy..